Do Moms Need Term Life Insurance?

Many moms nowadays have never acquired life insurance because they consider it to be too expensive. That is certainly true of permanent insurance. Nowadays you can get term life insurance which is a great option for people who are having a hard time during the recession or who are unemployed or who are underemployed.

I am here to tell you that life insurance does not necessarily have to be 'for life.' It can addressing short term needs. For instance you might want to buy selective insurance that only lasts until your children graduate from college so that they are not stranded for tuition money in the middle of their education.
Term life insurance has been around for at least fifty but few people know about it. The fact is that you do not have to pay the expensive rates that are often associated with life insurance nor do you have to settle for an over-priced policy that is less than thorough and might not cover living expenses for your loved ones, funeral costs and other matters.

Greedy insurance companies will always prefer that you buy an entire life insurance package because you end up paying them for longer. The real advantage to this type of life insurance is that it first of all allows you to choose the coverage amount that you can afford and then second of all allows you to choose the length of the policy.

A permanent life insurance policy often costs thousands of dollars annually. By contrast, term life insurance policies cost consumers a lot less. Term lengths can vary from being ten, twenty or thirty years and you can choose coverage amounts that range from being anywhere from $100,000 to several million dollars. Keep in mind that whatever you spend that the longer the term is and the more that it covers the more that it will cost you per month. Depending on what you buy it may even be under $120 every year. This is a boon to the mom, especially the single mom, who likely has all kinds of other stuff to pay for.

Like the longer term policies, these types of life insurance policies are mainly available to individuals in good health who do not have a history of disease (like cancer or AIDS) or indulging in bad habits like smoking or alcohol abuse. The insurance company that offers incredibly low monthly payments to 'high risk' individuals just does not seem to exist.